Prudential (NYSE:PUK) Shares Gap Up to $18.49

Prudential plc (NYSE:PUK) gapped up before the market opened on Wednesday . The stock had previously closed at $18.49, but opened at $19.01. Prudential shares last traded at $18.91, with a volume of 45,927 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PUK shares. BNP Paribas upgraded shares of Prudential from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 26th. StockNews.com upgraded Prudential from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd.

Prudential Stock Performance

The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average of $19.09 and a two-hundred day moving average of $19.79.

Hedge Funds Weigh In On Prudential

A number of hedge funds have recently modified their holdings of PUK. Royal Bank of Canada grew its position in shares of Prudential by 2.8% in the 3rd quarter. Royal Bank of Canada now owns 2,104,380 shares of the financial services provider’s stock valued at $46,129,000 after buying an additional 58,097 shares during the last quarter. Gradient Investments LLC lifted its position in shares of Prudential by 81,255.6% in the 4th quarter. Gradient Investments LLC now owns 21,966 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 21,939 shares during the period. HBK Sorce Advisory LLC boosted its stake in shares of Prudential by 6.4% in the 4th quarter. HBK Sorce Advisory LLC now owns 12,246 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 736 shares during the last quarter. Cerity Partners LLC increased its position in shares of Prudential by 25.9% during the fourth quarter. Cerity Partners LLC now owns 16,658 shares of the financial services provider’s stock worth $374,000 after buying an additional 3,428 shares during the period. Finally, Signaturefd LLC increased its position in shares of Prudential by 183.0% during the fourth quarter. Signaturefd LLC now owns 14,926 shares of the financial services provider’s stock worth $335,000 after buying an additional 9,652 shares during the period. Institutional investors and hedge funds own 1.90% of the company’s stock.

About Prudential

Prudential plc, through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa. The company was founded in 1848 and is headquartered in Central, Hong Kong.